From the Daily News:
Li Chen, the owner of Apple Tree Day Care, will vacate the property, owned by Tommy Huang's company, Audrey Realty, by the end of November - three months before her two-year lease expires.
Huang had been pushing Chen to leave the property since April. The deal came before a judge was set to make a final decision on the case in Queens Civil Court.
Under the agreement, Chen will not have to pay rent for three months prior to her leaving the 2-acre property on 73rd Ave. She plans to reopen her day care center in Bayside by December, she said.
Huang is in negotiations with Robert Frischman, president of JDF Realty, to sell the property - a deal that couldn't close as long as Chen was still a tenant, Lin said.
Frischman represents the Fresh Meadows Jewish Development LLC, which plans to buy the property for $5.6million, according to Audrey Realty's statements to Chen.
Assemblyman Mark Weprin (D-Little Neck) wrote a letter to Frischman late last month, pointing out that the city Planning Commission must approve new development on the site because of zoning restrictions.
Altering the property in any way would require a special permit, Weprin noted.
Frischman said his client did not plan to develop the site, according to Weprin.